Jim Balkcom is a friend of 5 years. He is a very respected businessman and loves Christ. Below is his bio and thoughts on building a Board of Directors for your business.

In Christ,

Boyd

How to Build Your Board of Directors

It’s not easy building a high tech startup. But here’s a tip: When choosing your board, take the time and energy to make solid choices. Picking the right players for your board is critical for your company’s success and will save you many headaches down the road.

Here are some suggestions to make sure your board is a good one:

View the board of directors as an independent body

One of the most common mistakes by entrepreneurs is to “stack” the board with members friendly to their cause. While it may be comforting to know that your position is “secure” regardless of how well or poorly you are executing your duties, it deprives you of the opportunity for an honest, independent performance appraisal. An independent board is in the best position to take an unbiased view of the company’s and the CEO’s performance.

Compose the board of directors of outside members only

Sensitive issues arise in any company. Some of them may be related to the performance of key executives or the CEO. Others may be directly related to the future of the company, i.e., succession issues, financing alternatives or merger/acquisitions. These issues are best handled when the CEO is able to speak freely with his board and seek advice without other members of the management team present. A board with too many representatives from management, in our experience, is far less effective and often results in second-guessing and behind-the-scenes discussions and maneuvering.

Seek a balance of skills on the board

If you raise money from professional venture capital investors, they will usually request a board seat to look after their investment. Most reputable venture capitalists have experience in serving on multiple boards and can be of substantial value to your company. However, they are not likely to be experts in your specific line of business. Seek to balance the board’s composition by adding someone with experience in your market segment. In addition, make sure to include one director with a strong financial background and another who is the CEO or VP of marketing of a successful company in a complementary business segment. These people can provide insight not only on issues specific to your company, but also provide a broader perspective on industry trends, etc.

Communicate frequently with the board members

A board will function best when it is prepared, i.e., the members are up-to-date on the state of company and have had time to think through the major issues. One of the worst mistakes for an entrepreneur is to surface major bad or unexpected news during a board meeting. This forces board members into a reactive posture and doesn’t give them adequate time to reflect upon appropriate alternatives. We always encourage the CEOs of our portfolio companies to call all directors beforehand with a brief overview of the major topics to be covered at the board meeting. If possible, provide all board members with necessary materials for review well in advance of the meeting.

Actively seek involvement of the board

Too many companies view their board as window dressing and board meetings as a nuisance in which the management gives carefully rehearsed “dog and pony shows.” Qualified board members have a wealth of contacts that the CEO can and should tap into, whether potential customers, partners or additional investors. Outside board members can be effective in evaluating the company’s strategy and a valuable resource in recruiting other members to the management team. Don’t hesitate to ask and insist on their involvement in specific issues. If board members are unable or unwilling to spend the time necessary to help the company and/or CEO, they shouldn’t be on the board in the first place.

Listen to advice from the board

The board of directors is a legal structure that provides a fiduciary oversight of a company on behalf of all shareholders. Most of the time the board will agree with the strategy and actions proposed by the management. Sometimes, however, the board may disagree and even insist on a course of action that is different from the one proposed by the CEO and the management team. Heed the advice of your board members. They are not after your job, but are merely doing what is, in their judgement, in the best interest of the company and its shareholders.

If you treat your board of directors as an adversary that needs to be overpowered and controlled, you miss out on the value they can provide. But if you see them as an ally, you’ll be able to tap into a significant resource base with a tremendous payoff to you and your company.

Jim Balkcom is an Executive Coach, Leadership Mentor and Consultant. He is currently serving as the Civilian Aide to the Secretary of the Army along with running Corporate Psychology Resources, Inc. He is the Founding Partner of Council Ventures, L.P., CEO Council and Investment Committee 2001-Present and serves as the Chairman for Ikobo, Inc., Online Money Transfer. He has also served as the Director of eVault, Inc., the leading provider of online data protection and quick recovery services and software. A native of Atlanta, Ga., he resides here with his wife of 41 years, Linda. They have two daughters and four beautiful grandchildren. Jim is also a graduate of West Point and served in Germany and Vietnam, being awarded numerous medals for his service.

I was fascinated and encouraged by this brief article on faith influencing our nation in the November 30, 2007 edition of the Wall Street Journal. The article is titled “The Currency of Faith: How one man put God into Circulation.”

I have always been intrigued by God’s influence on our American culture and our brief history as a nation. For 1996 Atlanta Olympics, our family purchased a $35 brick with the inscription “In God We Trust.” Our family believes his posture of dependence on God is a bedrock for the Lord’s continually favor on families and governments. Therefore, as we look to men and women to lead our Nation, let’s ask God for those who embrace and cherish our heritage of honoring Jesus Christ by embracing his values and principles for living. “In God we Trust” is not a trite or passing phrase. It is commitment to Christ and His grand scheme of things. Lastly, it is a reminder, because it is embedded on money, to make and manage money well. This will one day invite the affirming words of Jesus, “Well Done”!

More details and supporting information can be found on the Department of the Treasury site.

I have known John and Debbie Woodall since he came on staff at North Point Community Church as the Married Adult Director in 2001. I deeply admire both he and Deb’s walk with Christ and their commitment to their children. The questions they have crafted are an excellent tool for an ‘annual life audit’. Rita and I go through a similar discipline each January in anticipation of the upcoming year. Use some or all of these questions to integrate your life more fully with Christ’s and His plan for you. Enjoy!

Reflection and Preparation

by John & Debbie Woodall

The habit or practice of reflection has increased and become very important to me over time. I have noticed people are running so fast and not taking the time to sit, think, review, remember and readjust their lifestyles and schedules. With some regular times of daily, weekly, monthly, quarterly and annual reflection, it can lead to peace, stability and very purposeful living.

The following questions are to get us thinking about this past year and prepare us for “The Best Year Ever.” How am I doing in the major areas of my LIFE, MARRIAGE, FAMILY, WORK and CHURCH?

1. LIFE

A. Spirit

1) Do I love God, my Father with all my heart, soul, mind and strength?
2) Am I growing in my intimate relationship with Jesus Christ?
3) Am I living and walking by the Holy Spirit?
4) How is my time in the Scriptures? Am I delighting in and meditating on God’s Word day and night?
5) Do I find myself praying more or less about all things?
6) What 3 spiritual practices generated the greatest benefit?

B. Soul (Mind, Will and Emotions)

1) What am I doing to daily renew my mind?
2) Are my thoughts pure, lovely, noble, truthful and full of praise?
3) What are the best three books I read last year?
4) What kind of choices did I make last year?
5) Did I choose the way of life versus death? Did I choose the way of the Spirit versus the way of the flesh? Did I choose to walk by faith versus walk by sight?
6) Was I full of love, joy, peace, patience and self-control?
7) Was there any anger, guilt, greed or jealousy that needs to be resolved?

C. Body (Did I live in B.A.L.A.N.C.E?)

1) BREATHING – Am I getting enough oxygen in my blood?
2) AWARENESS – Am I paying attention to what is going on in my body?
3) LIQUIDS – Am I drinking enough water?
4) ANTIOXIDANTS – Am I taking the right of Multi, C and E?
5) CONDITIONING – Am I exercising 3-5 times a week?
6) EFFECTIVE REST – Am I getting 7-8 hours of sleep?
7) What three ways will I take better care of myself this next year?

2. MARRIAGE

A. Intimacy

1) Does my wife know she is the #1 priority relationship on the planet?
2) Am I loving my wife as Christ loves the church?
3) Are we praying together on a regular basis?
4) Are we regularly sharing what we are learning from our own relationship with Jesus Christ?
5) Am I washing and cleansing her with the Word of God?
6) Am I carefully listening to her thoughts, feelings and desires?
7) Are we enjoying many sexual and non-sexual touches?
Are we enjoying romance and physical intimacy on a regular basis?
9) Did we have an awesome anniversary celebration?
10) Have we enjoyed quarterly getaways?
11) Did we have our monthly MSM, Marriage Staff Meetings?
12) How was our “Weekly Focus” time?
13) Did I provide her the structure or spontaneity she needs and desires?
14) Did I give her the full and focused attention she deserves?
15) On a scale of 1-10, how would my wife rate our marriage?
16) What needs to be done to get it to a 10?

B. Finances

1) Did we honor the Lord with the first fruit of all our increase?
2) Did we give generously and cheerfully?
3) Did we save appropriately?
4) Did we invest for the future proportionately?
5) Did we spend moderately?
6) What financial adjustments must we make for this next year?

3. FAMILY

A. Father

B. Son

1) How am I doing as a son?
2) How did I honor my Father and Mother this past year?

C. Brother

1) How am I doing as a brother?
2) How did I love and care for my brothers and sisters?

4. WORK

A. Did I see my work as a gift from God?
B. Did I do my work as unto the Lord?
C. Am I living as a man under authority showing respect, gratefulness, a servant and quiet spirit?
D. Am I showing excellence and diligence in my work?
E. Am I taking the low place and trusting God for His invitations, appointments and exaltation in His time?
F. Am I “choosing to cheat”?
G. What three work relationships need more time?

5. CHURCH/MINISTRY

A. Am I living in community with other believers?
B. Am I investing, influencing and inviting other outsiders?
C. Where did I strategically serve in my local church?

Some additional questions:

6. In reviewing last year, what areas reveal the most progress? The least progress?

➢ Most –

➢ Least –

7. What is the wildest, most unconventional thing I could do this next year to live with more passion? What out of the box thinking could we do?

8. Who will hold me accountable to be my best self this next year?

9. The most significant way I will influence others is…

10. List 3-5 of your best achievements this past year.

11. Strengths and Successes – Identify what has worked well this past year.

12. Struggles and Stresses – What has not been working so well?

13. Habits – What are the most purposeful daily habits you could develop/upgrade over the next 12 months? Develop 1 habit at a time, not 2, not 5.

14. Clutter – Identify 3 messes or clutter projects you’d like to clean up in the next 12 months? Clutter can be anything that is taking up room in my mind…for example we have 1000 AU’s (Attention Units) and anything from a sick relative, to wayward child, to troublesome marriage, to bitterness can all take up mental and emotional capacity. We must un-clutter our minds so that we can reach full potential.

15. Character – Proverbs 22:1 says, “A good name is more desirable than great riches; to be esteemed is better than silver or gold.” Identify 3 qualities you’d like to see associated with your name as well as how you’d define each quality. I wrote the following for me.

1. Loving – That I fully received the love of God into my life and loved Him and people in return

Matthew 22:37-39 – Jesus replied: “‘Love the Lord your God with all your heart and with all your soul and with all your mind.’ [38] This is the first and greatest commandment. [39] And the second is like it: ‘Love your neighbor as yourself.’

2. Humility – Taking the low place before God and others

Luke 14:7 When he noticed how the guests picked the places of honor at the table, he told them this parable: 8 “When someone invites you to a wedding feast, do not take the place of honor, for a person more distinguished than you may have been invited. 9 If so, the host who invited both of you will come and say to you, ‘Give this man your seat.’ Then, humiliated, you will have to take the least important place. 10 But when you are invited, take the lowest place, so that when your host comes, he will say to you, ‘Friend, move up to a better place.’ Then you will be honored in the presence of all your fellow guests. 11 For everyone who exalts himself will be humbled, and he who humbles himself will be exalted.”

3. Servant – That I was more interested in the needs of others than myself.

Mark 10:43-44 – Not so with you. Instead, whoever wants to become great among you must be your servant, [44] and whoever wants to be first must be slave of all.